Understanding Credit Score Differences
Understanding Credit Score Differences

There are few numbers in life that matter as much to your financial outlook and well-being as your credit score. However, confusion is the norm for consumers when it comes to this important financial gauge.

The History of Credit Scores

Prior to the creation of standardized credit scores, lenders and loan officers would often develop their own "score card" to assess the risk of lending to a particular borrower. This score card was based solely on one's credit report and could vary drastically from one lender to the next. The major issue with this original method was that it was based on a loan officer's ability to judge risk, rather than a common set of rules and specific calculations.

So, in the 1970's, the Fair Isaacs Company set up the first credit scoring system in order to help remove the inherent inconsistencies that arose from having each lender perform their own credit diagnostics. It has since become known as the FICO score and the algorithm has been widely adopted by America's largest credit reporting agencies.

Why Would My Score Differ Between Credit Agencies?

The three major credit bureaus are Equifax, Experian, and TransUnion. Simply put, the reason that the scores you receive may differ is that each score is dependent on the credit report that each receives and the scoring model they use.

In other words, Equifax might have not exactly the same information on you as Experian and vice versa. One credit bureau may be missing an account that either helps or hinders your score and will therefore report a different credit score than another credit bureau. If the system was perfect, this wouldn't happen. But since it isn't, you want to make sure that they all have the proper information by checking your three free credit reports every year at www.AnnualCreditReport.com.

Why Would My Score Differ Between the Same Credit Agency?

Credit bureaus use many different scoring models, even within the same credit bureau. Each bureau can use dozens of different credit score models based on the requirements of different lenders.

Each credit score model has a slightly different formula that takes into account over 200 different factors of your credit report; like a thumbprint, no credit score model is exactly the same. In addition, credit scores can change anytime so you have to make sure you are comparing credit scores from the same day.

As an example, a mortgage company will get a different score than a company providing auto loans, since they are looking for different types of credit history and credit factors.

Other Available Scores

While FICO is the most famous, there are several other versions and providers of credit scores, such as VantageScore, NextGen, BEACON, and EMPIRICA. Some scores are directly developed by credit bureaus, while others are developed by outside companies.

Is there a "Best Score?"

In a word, no. In order to protect revenues, credit reporting agencies will often position their scores as the best or the most predictive. In reality, all scores must adhere to similar guidelines to be truly predictive, regardless of the final output number. All credit scores are built from the same base set of data and statistical procedures.

Like many products and services in the marketplace, there are a plethora of different options for you (and the businesses that serve you) to choose from, simply because every buyer is different. Based on cost and effectiveness in each buying situation, there are credit scores for sale to satisfy each customer.

Score Ranges

Just as a point of reference, it may be important for you to know what the score rangers are for each of the major reporting agencies. While each agency uses internal predictors of certain events (e.g. how likely you are to file bankruptcy), the final credit score is not meant as a probability-meter for any specific event. In any case, the higher your score the better, as it is a general gauge of your overall credit worthiness in the eyes of lenders.

  • FICO: traditionally between 300 and 850
  • Experian: 330 - 830
  • Equifax: 300 - 850
  • TransUnion: 300 - 850
  • VantageScore: 501 - 990 (often assigned a letter grade, A - F)
Bottom Line

Because there are hundreds of credit scores that measure many different probabilities, consumers should not be overly concerned with the type of score or even their number. Rather, they should monitor changes within a single score.

It's also important to note that your credit score is a continuous variable which can change minute to minute. Every time your credit report changes, your credit score could change.

These complicated facets of credit scores are exactly why we developed Credit Karma. By keeping the bureau and credit scoring model consistent, we are hoping to provide consumers with a single, easier-to-follow point of reference on their credit health. Best of all, it's always free to check your credit score with us. In this way, you can update as often as you want and always have a consistent baseline to better understand how your score is changing and what you can do to make it better.

Update: Check out our new score summary page, which will compare your score to scores nationwide!


All Comments
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Helpful to 211 out of 233 people

The thing that baffles me is that this is a free service that is intended to help you make better credit decisions. People are complaining it doesn't have all 3 scores, that it isnt 100% accurate etc... people ITS FREE! What other site is free and lets you update your score everyday and alerts you to inquiries etc? If you want accuracy pay for a service..even then your score could change in a minute!

Comment by
termike12

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Helpful to 84 out of 96 people

Try credit sesame. They are free and accurate. I just got a new car and they ran my credit and it compared exactly with credit sesame. Credit karma was wayyyyyy off.

Reply by
mulberrygal

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Helpful to 42 out of 54 people

Exactly! Well said termike12 :)

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Reply by
tamih62873

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Totally agree!!

Reply by
creditkeeper1839

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Credit Karma says they use TransUnion.  My score on Credit Karma was 667 on March 8. I received a score from TransUnion of 644 on March 8.  Someone iis fudging the numbers.

Reply by
Craig1017

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Although I didn't buy a car recently my experience mirrors that of Mulberrygirl.  Credit Sesame has consistently had far more accurate reporting of my scores, correlating well with my own retrievals of the scores.  Credit Karma has consistently been far off.  Both are free services.

Reply by
cbpsych

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I agree, great company.  also need to update when something is paid off!

Reply by
teenie02

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Great service, they just need to update monthly. Like when you pay off a balance.

Reply by
teenie02

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0 People Helped

Yes, it is free, but does accuracy not matter.  If we do not get the correct score then it is useless.

Reply by
lotus1000

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Helpful to 0 out of 1 people

@ mulberrygal: Creditsesame ONLY shows you Experian's score. C.C. is an average of all three scores. That is why the scores are different. If you pull each of your credit reports annually, you will see the scores with each agency is usually very different from each other.

One credit reporting agency will NEVER match up perfect with C.C. for that reason.

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Reply by
tamih62873

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Helpful to 211 out of 237 people

Why is my score so low here and NOT on TransUnion even though you say you are using thier score. I have a 690 here and a 780 when I log into TransUnion?  Additinally, when my score was run by a Bank it came back as 712 from TransUnion.  None of this makes sense!!

Worse, I had >800 score when I purchased my car a few months ago. It dropped tremendously due to a car accident where the other driver took me to small claims court and WON!!! The judgment was paid (by Statefarm!) within a week yet my score dropped 50 points!  

I have NEVER paid a late payment and my credit is perfect!  I feel as though credit reporting agencies should be monitored for their unethical behavior!

Comment by
katvaz

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Helpful to 137 out of 151 people

I think all credit reporting agencies should be held accountable. Oh yes, you can file a complaint with the Federal Trade Commission, to date as of last year I still have not heard from them. If you will notice also, all three credit reporting agencies have been "outsourced", and the main priority is not supplying you with a free report, but offering services for your score, or as with this website, card offers. Consumers DO have rights in America and the FTC needs to enforce them. Jjust as many store cards JC Penney, Walmart, Paypal, Amazon, Sears, Capital One all with GECRB. Paid all cards off and wont use unless absolutely have to and pay it off in full payday. Fair Credit Reporting Act you can sue up to $1000 and possibly pain and suffering. A class action lawsuit in the making as people have been wrongfully denied credit due to discrepancies in their files and the **** banks rely on this in determining, higher score = less interest, lower score = higher interest and more money in the banks pocket, Its an all around scam, and they all pass the buck because they leave it up to the consumers to correct their inept attemps..

Reply by
Tapp1959

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Helpful to 64 out of 72 people

Are you sure it dropped because of the accident? Did any reference to the accident claim appear on your credit reports?

you state that you bought a new car. If you financed that car, which you probably did, you score would automatically drop as you took on new debt, an installment loan. After 4 months to so of on time payments you score should rebound considerably.

hope this lowers your blood pressure as well!

dan b

Credit Profile Restoration (CPR)

Tampa, FL

Reply by
danbart5210

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Helpful to 7 out of 9 people

It really irritates me how some people like to complain about a FREE site. I am very appreciative that at least there is a site where WE can monitor our credit rating for FREE. Some of you are blaming this site for your scores. This site is an average of your credit scores from 3 reporting agencies. I think it is pretty accurate. If your credit score drops, it is because of the credit agencies (TransUnion, Equifax and/or Experian) and information they recieved. It is not Credit Karma's fault.

Thank you Credit Karma for the FREE advice, monitoring, etc. Most of us do appreciate it :)

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Reply by
tamih62873

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Helpful to 14 out of 20 people

Yeah  mine was the same, my score was much higher on transunion than on here, ahhhh why? I think this is kind of a bogas website, they really dont know squat !

Reply by
peanuts563

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Helpful to 1 out of 1 people

I have the same problem with CreditKarma.com.  My TransUnion score is 711 & CreditKarma has it 632.  I paid down my credit cards 1100.00 and my score on CK dropped 9 points.  It makes no sense, but increased on all the credit bureaus.  CK is way lower that the 3 credit bureaus and isn't even a little bit close to TranUnion's.  I cannot get a straight answer for the discrepancy.

Reply by
lotus1000

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That is so funny because I just posted the same question  my score here is 560 and when I log onto my trainsunion account it 637 I guess thats why credit karma is free to us you get what u dont pay for lol

Reply by
tullie31

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I agree my score is so low on credit karma 635. My real fico score is 682 which is a big difference.

Reply by
Jircha77

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State Fatm is notorious for delaying payment of claims. Change Insurance companies! Also, because State Farm delayed payment resulting in the lawsuit, you now have a negative public record on your report. 50 points is an appropriate drop in your score. As this report ages, the effect of the public record will be less each year.

Reply by
Acats45

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YOU SIR......are an average American, set up to be screwed at every turn by and WITH....the blessings of the government!

Reply by
0131

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When you purchase a car your score drops, because it increases your debt total (usually). It may have been the vehicle purchase rather than the small claims court thing that lowered your credit.

But anytime your debt increases, your score will drop. I co-signed on two separate loans recently and mine dropped about 50 points also. Now I have to wait until they re-finance or pay off thier auto loans to purchase...wasn't really thinking ahead :(

Also, the score here ( I believe) averages between the 3 credit reporting agencies, which sometimes can differ from each other greatly. Best thing to do is once a year go to annualcreditreport.com and get your detailed credit report from each agency. You don't get your scores, but a detailed credit report. Make sure you check each one for accuracy. Some companies only report to 1 or 2 of the agencies, that is why they can differ so much.

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Reply by
tamih62873

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The system is out to get all of us.

Reply by
mgpritchard

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Helpful to 98 out of 108 people

So my score was 794,  Then I sold my house and paid off the mortgage and also paid off a car loan and the score drops to 780.  This is such a scam and a joke to the American consumer who is fiscally conservative.  Shouldn't paying off loans increase your score? 

Comment by
revsiegel

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Helpful to 81 out of 87 people

I also believe that as you pay off your loans that it should increase your score not decrease your score. the same thing has happened to me inthe past. I seems like they just want us ( the working class) to stay in debt to try to keep a good to better credit rating. To try and inprove how we look on paper to everyone else.

faroutthere1

Reply by
notsinglenow

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Helpful to 101 out of 113 people

When an account such as a auto loan or mortgage is paid off, the account is then closed. While the account was open, you had a limit and open balance. For example, if you had a $30k auto loan, and a had only a few payments left, you are utilizing less than 10% which will give you a higher score. Once the loan is paid, it is closed and your available credit decreases...hence the lower score. However, this is temporary and your score will increase again over time.

Reply by
ikhoseo

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Helpful to 1 out of 1 people

my wife and I were in a simlar boat.  WE THOUGHT WE WERE DOING THE RIGHT THING BY GETTING RID OF DEBT!...SURPRISE SURPRISE!!! we were finally able to catch up , pay off bills, sold a house, payed off mortgages all in the name of raising credit scores only to have them drop 83 points in 2 days.  they are determines not only by the amount of credit debt you have, but also, what percentage of that credit is being used.  it is called credit utilization.  basically, it would be better for you to have long standing avaiable credit that you use than to get rid of the debt entirely.  say you have 10000 credit limit on a credit card and you use 100 of it.  that represents 1% of your available credit..  that means also you have 99% of your available credit still available.  if you close the account instead of paying off the balance, you now have 0% of that same 10000 available credit.  

Creditors look at that  over a long time and see that you are using your available credit wisely, they are more likely to extend more credit.  as long as you make wise decisions about the use and payment of your credit, it helps you out in the long run.

Reply by
slbarnes1966

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The reason why is because you closed two accounts so quickly.  having those acconts open and making monthly payments is what increases your score.  I know it doesn't make a bunch of sense, but I guess the way they see it is something like this: Well, maybe the person just came up on a bunch of money, and tried to pay off as much as they could." I guess they think it shows lack of responsibility.  Stupid, I know.

Reply by
matthewbrahm

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Helpful to 1 out of 1 people

I myself do not worry about my credit scores. I do not want any DEBT and pay off my credit card we use online before the monthly bill arrives in the mail.

 I do not want to be working for a credit card company  or a automotive company making car payments . If we can not pay CASH before the bill is due we do not purchase it. I guess I am just Weird ........ 

I choose not to live in the real world where debt is king...... 

Reply by
ROUTE3021

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Helpful to 1 out of 1 people

I heard ya ... I've paid off two mortagages and haven't carry a car loan ... the more liquid I become the worse the score.... I always pay 100%of my credit cards monthly and that doesn't seem to help....

Reply by
hatson

3 Contributions
3 People Helped

My socore dropped, too, when I piad off my mortgage.  My score with Credit Karma is and has stayed at 760 for a long time.  According to the actual FICO score, it should be 826.

Reply by
rczsfsgm

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AMen to your view!!  We just paid off all our debts, and have onlya home mortgage left that has NEVER been close to being late in paying monthly.  My score was about 785 and when I paid off the last account with Home Depot, my score DROPPED to 763.  Now someone come up with an explanation for that kind of Obama hors.......t!

Reply by
brendasguy

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1 Person Helped

No! Your score is based on active accopunts. Less active accounts means a slightly lower score, even if you had a perfect payment history before paying off the loans.

Reply by
Acats45

6 Contributions
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I am starting to think that having all these credit reporting acgencies out there is a scam. None of the numbers match. I think they use scare tactics to get consumers to go into more debt. I am being ****ed for being fiscally conservative. I have no debt and have plenty of savings and a poor credit score. I can't any credit because I don't have any credit. I refuse to pay high credit cards fees for a better credit score. I was forced to take a small secured loan at my local creit union to help raise it.

Reply by
creditcaddy

2 Contributions
9 People Helped

It is a scam.  Welcome to reality.

Reply by
ddiaz1983

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What is the range on Credit Karma scores?
Helpful to 334 out of 386 people

Please elaborate on the range of the Credit Karma scores.

Thanks!

Comment by
tpholden

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Helpful to 116 out of 130 people

Just got off the telephone with TransUnion and was told the only model they use is the "Vantage" model. 

Reply by
arkansan

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Helpful to 94 out of 114 people

How does CreditKarma scores relate to the other three major reporting agencies?  Such as yours says 694 and Experian says 672 as an example.

Reply by
3552775

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Helpful to 35 out of 41 people

I paid off one car loan and my score went down 48 points..why and such a big change?  Shouldn't it a progress toward and much high point?  Karma note indicated that loss of point was due to my closing my account?  Why is that? Car Loans are not credit card loans...

Reply by
g81630

3 Contributions
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Helpful to 12 out of 13 people

CreditKarma uses the TransUnion report to create a score based off of the TransRisk model. The reason your scores may differ from Experian to TransUnion is because both use different models.

Another possible factor is that a company you have a line of credit (whether revolving or installment) through does not report to TransUnion or Experian, which caused one score to be lower or higher than the other.

Last, TransUnion's model accounts for 550 possible "points" where Experian's only counts for 500, so your score may be "expanded" through TransUnion's, causing it to appear less than it really is.

The only true way to know why one is less than the other is to know both of their models. I would recommend getting two free credit reports (one from Experian and one from TransUnion) and comparing them.

Reply by
JustinTW

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Helpful to 4 out of 4 people

It's such a bunch of crock.  They took off 10 points because I am not taking their advice on car insurance?  That is so bogus.  Crazy DM

Reply by
hanaleikanai

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Helpful to 3 out of 3 people

thanks for the info with transunion on the vantage score,appreciate that insight.

Reply by
bluejaybluebirds

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Helpful to 1 out of 1 people

Omg. this just happened to me too. I paid off my car loan six months early and took a 30 point hit.I am so annoyed as I had made an 80 point jump in the past 6 months in preparation to make a home purchase in 2013!!!

Reply by
sdougteach

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Helpful to 1 out of 1 people

These agencies are screwed up.

If you have a large credit limit,your score goes down,(they consider it debt,even if you do not access it).The less you use your credit cards it goes down,your score should have gone UP for paying off ANY credit you owed.

I would contact them,and complain.One of my Banks was bought buy another, they still show it as two accounts!,the lower your limits, and the fewer cards, and the less you owe, the higher the scores.(but make surr to use them regularly and pay pronto), this increases your score.

Having tons of cash, but not charging screws up your credit.

I rarely use CC cards, and pay cash.Whay I buy, and where is my business not these leeches.

My Insurance rating went down,NO reason at all.No claims in years.Pay like clockwork(early even). Experian shows me at close to 850.................these guys have me 80+ points lower, go figure.

Reply by
Boog1950

4 Contributions
2 People Helped

What is the best credit score from Karma credit?

Reply by
David7135

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Very helpful. thank you. 

Reply by
picacoo

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great information. thanks

Reply by
Rowrow123

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I notice a couple balances going down but my score is not,,I don't understand why

Reply by
BrianB76

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Makes sense .

Reply by
torbuktu

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Experian is the least accurate of all 3 credit bureaus. They report a higher score because they also do not list all the accounts you have open and closed. I don't know of any company that checks Experian for credit inquiries. Depending on where you live will determine whether they look at your Transunion or Equifax scores. My Experian score is about 70 points higher than my Transunion/CreditKarma score. I have never had a credit inquiry on Experian.

Reply by
ikhoseo

3 Contributions
102 People Helped

WOW! Would love to hear how you made that 80 point jump.

Reply by
nikkiwilcan

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it gives you somthing to measure against if you trying to grow youre credit you want to keep what you owe  below 50% keep youre payment on time learn all you need to know about how credit works  be carecareful on who pulls you're credit you lose points everytime youre goal is TO GROW  credit  

Reply by
bear768

6 Contributions
2 People Helped

Me too! What the hell??

Reply by
bakinn

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Helpful to 192 out of 229 people

I have a score of 788. Should I bother to try and improve it or just leave it alone? There are some accounts that I could close that are not the oldest like store cards.

Comment by
beantowncod

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Helpful to 50 out of 56 people

Inquiries made by Credit Karma are not hard inquiries and do not count against your score. Not sure where you got your information but it's 100% incorrect.

Reply by
adanziger

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Helpful to 78 out of 92 people

Your credit score is pretty excellent. I will advise not to close any cards but maintain a zero balance on them because closing them can taking more than 20 points off your score. your credit can go higher only if you have your auto loan paid off, no recurring balances on credit card and more than 80% off your home loan or mortgage paid off. Keep on with the good works

Reply by
erickweku

1 Contribution
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Helpful to 8 out of 9 people

I pulled my credit report from all bureaus last week and Credit Karma most certainly does NOT PLACE A HARD INQUIRY.... that's just silly.

Reply by
fishkisses2000

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Helpful to 8 out of 9 people

I closed a bunch of card because I was under the mistaken impression that I had too much credit!  Well, I can't seem to recover from that grave error.  And the credit card companies, based on the greater utilization I created by canceling some cards, have taken away credit, raised my interest rates, and canceled additional cards.  I went from a score of 800 to 650.  And I'm having a terrible time building that back up.

Reply by
tookum

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Helpful to 4 out of 4 people

Credit Karma is not a hard inquiry.

Reply by
cpaigethree

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Helpful to 4 out of 4 people

The best credit card offers and the lowest interest rates are given to those people with FICO scores above 750.  If that is correct, having a higher score only strokes the ego; it does not result in any tangible benefit.  However, please keep in mind that the scores provided by CreditKarma, while extremely useful, are not directly related to the FICO score.

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Reply by
frugal1

71 Contributions
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Helpful to 3 out of 3 people

It is a soft inquiry and does not count against you.

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Reply by
dustinkirk

23 Contributions
69 People Helped
Helpful to 3 out of 3 people

Depends on where you got the score, if from transunion, throw it out and go to FICO, Transunioin has a fantasy system that is useless...

Reply by
cmsf2003

1 Contribution
3 People Helped
Helpful to 2 out of 2 people

thats not true! a hard inquirie is applying for credit, not checking your score from credit karma or checking your score from any other place as well. Hard inquiries happen only when your asking for money, credit card, car loan, personal loans, ect....

Reply by
hvmartin

1 Contribution
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Helpful to 2 out of 2 people

I recently paid and closed my Toyota account for reason: truck was paid in full and my credit score was penalized-down 48 points...I've never face this kind of dilemna before..Does anyone know why? Thank you all...

Reply by
g81630

3 Contributions
39 People Helped
Helpful to 2 out of 2 people

If you close an account that is older than the average age you will lower the average. If you close an account that is newer than the average age then you will increase the average.

Reply by
forsyth999

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Helpful to 2 out of 2 people

leave it alone. people would kill for that score.

Reply by
1doggone1

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Helpful to 2 out of 2 people

Do the Simulation of any combination on the credit simulator page. Do a mock run on closing old accounts. I believe the Vantage scoring system is different to the older 

  • FICO: traditionally between 300 and 850
  • Experian: 330 - 830
  • Equifax: 300 - 850
  • TransUnion: 300 - 850
  • scores so, play around with it. I've found it very difficult to increase my grade when it gets into the higher levels.

Good Job on maintaining good credit! : )

Reply by
pixcasey

3 Contributions
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Helpful to 4 out of 5 people

1.  I think you'll find the inquiries are 'soft' inquiries.  No-one can place a hard inquiry on your credit unless you've given them signed, written permission to pull a credit report, as when you sign an application for a credit card or a loan. 

2.  I played the 0% balance transfer game many years ago.  Later, Chase came in and bought up the card issuing banks and I ended up with numerous Chase credit card accounts.  They allowed me to roll the credit limits from all those cards in to one.

Reply by
DiveDiva01

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Helpful to 4 out of 5 people

no it doesnt count as a hard inquiry ur retarded

Reply by
strunker

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Helpful to 1 out of 1 people

WRONG.....!!!

Having Credit Karma check you score results in a SOFT inquiry...!!

If you don't know what you're talking about sometimes it's better to say nothing...!!!

Reply by
SURFER8210

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Helpful to 1 out of 1 people

It is a soft inquiry and shouldn't effect your credit.

Reply by
lerainking1001

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Helpful to 1 out of 1 people

Credit karma does not do a hard inquiry on your account... Read their FAQ...

But as for Chase your right. I had 2 citi cards that I was able to combine with no problem. Chase on the other hand told me no... Why I have no idea...

Reply by
kfuchs87

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Helpful to 1 out of 1 people

 "did you all knnow that every time that "Credit karma" checks your credit score, it counts againist you by theem placing a "hard Inquiry on yiur credit ?"

This is not true. Do a little research!

Reply by
blugene501

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Helpful to 1 out of 1 people

True it does not affect your score at all I check mine all the time.

Reply by
capriceclassic

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Helpful to 1 out of 1 people

requests by yourself to view your credit do not show up when others look at your credit

Reply by
conantgould

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Helpful to 1 out of 1 people

There is never a reason to carry a balance. It is just as useful to pay in full.

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Reply by
dustinkirk

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Helpful to 1 out of 1 people

The person is incorrect. It is a "soft" inquiry and does not affect your score. If that individual is showing lots of inquiries, it's because he/she is applying for credit and obviously being rejected.

Reply by
ikhoseo

3 Contributions
102 People Helped
Helpful to 1 out of 1 people

I have heard that if you close any of your credit cards. It could bring your score down. And you should use them at least twice a year to keep them active. Canceled or inactive cards will lower you score, Bill

Reply by
billinorlando

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Helpful to 1 out of 1 people

leave it never close anything ruins your credit

Reply by
timmer

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Helpful to 1 out of 1 people

Part of your score is just not age of credit lines, but limits and types.  The better scores typically have low use (under 20%), but also have a variey of credit types, such as credit cards, installment loans, store cards, and auto and mortgage loans.  Closing some of these accounts may lower the variety of credit you have, the total credit limit, and raise your credit utilization because you now owe the same about, but your credit limit decreased.

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Reply by
JDinFL

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Your score will increase as the accounts age. You don't have to close any accounts. just continue to make on time payments. keep balances low and don't seeek any new credit.

Reply by
Brooklynbad

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"did you all knnow that every time that "Credit karma" checks your credit score, it counts againist you by theem placing a "hard Inquiry on yiur credit "

Absolutely, positively 100% incorrect. I have had 1 hard inquiry on my credit history ever since I signed up for an account on Credit Karma over a year ago. That count went up to 3 when I applied for 2 credit cards. And I have received plenty of emails from them about my cedit changing.

Reply by
Kroder

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leave it alone.....as for the oldest accounts, leave them open and if you have several with the same bank :ie Chase( they gobble up all the now defunct banks) just consolidate them into one or two accounts. My credit report says I have 116 accounts.......this is ludicrous, because I don't have 116 cards and all of the accounts without cards I cancelled.

Reply by
sweetboxx

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That almost or is the best score a person can get. and do not ever close a credit account as it will negatively affect your credit.  Just cut up the card and forget about until the next one is sent to you, then activate it then destroy it agan...  and if oyu havent got a credit card yet,  you would want to buy somethiing at around 300-500 dollars then pay it off with payment in six months not earlier.  Than do it agan and you will have triple AAA credt score with anyone and can qualify for the great auto leasing programs, and could also if you have the income get a decent pertile home loan.

I hope this has helped...

Cassi

Reply by
cassilynae

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thats GREAT credit wish i was up there congrats and god bless!!!

Reply by
BlairJames

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Mine is worst than yours.

Reply by
cecefun2

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Don't Close any accounts even if paid in full.  It will lower the avarage age of your total credit and thus cause a drop in your credit score.

Reply by
DConnectionsTEK

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In order to prove your score DO NOT CLOSE REVOLVING ACCOUNTS! As far as store cards(installment cards) are not good for your credit they are actually bad for your credit. As far as revolving accounts pay them up to 75% or so and do not use them and make timely payments that will booost your score. DO NOT OPEN ANY NEW ACCOUNTS while trying to improve your score. Nowadays a 788 score is not that good, yes its good but its not real good. I would improve my score if i was you, close that store card(its not any good) and pay down your revolving accnts to 75% or so and do not touch them wait approx a month to 3 months to check your score( it depends when the buisness reports to the agency some report monthly others report every 3 months). Hope this helps

Reply by
joshanderson24

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Actually they say that closing the accounts you don't use negatively effects your credit scores because it lowers your "available" credit and the score is based on the percent used out of the total available. the more credit you have and the less you use the higher your score! So don't close them just let them ride and cut up the cards so they don't get stolen or used accidently. 

Reply by
DLFG

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If things are running well for you dont bother!

Reply by
Orlandomike

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Keep improving your credit score!

Reply by
ArthurJ2012

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DOn't ever close an acoount.   10% of your score is a healthu mix of credit.  Go but one lunch a month if it is a credit card and pay it and pay it on time.  your score consists of 35% payment history  30% outstanding debt 15% length of credit history 10% recent inquiries 10% healthy mix types of credit

Reply by
donnaldale

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No leave them alone. I did that and it hurt my credit. Just use them once in a while for a very small ammount and pay it off. that will help it go up..Thats what I am doing now. The higher the score the better,

Reply by
just4me36

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Credit Karma does a "soft pull" which does not count against your score.  It's in their documentation.

Reply by
1JVCE3C5

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Don't close any accounts. It hurts your score!

Reply by
dockside58

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Self-pulled inquiries do not count against you, only inquiries by potential credit grantors do.  

Reply by
jenholloway

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I update my CK everyday. I have never seen any inquiries on my report such as you speak.

Reply by
OneFastCourier

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I pulled my 3 days ago.  Credit Karma "does not" place HARD InQuiry!!!!!!!

Reply by
amadues

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HA HA HA FUNNY

Reply by
BEEFYKID

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I update my Creditkarma score often, but I never see any indication of an inquiry.  I have noticed that while my 3 bureau scores are continuing to rise, my vantage score is declining.  Could it be because of the updating?  Also, there is no information offered on the vantage score, such as inquiries listed, etc.  Any insight on the worth of the vantage score?

Reply by
royol31

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Completely bogus.  Couldn't be more wrong.

Reply by
danvain

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Credit Karma is a soft inquiry, it won't show on your credit report

Reply by
tleonar2

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My FICO score while still low 673 is higher than EQ 667; EXP 638 and TransU 653.  What gives with tha?.  I know that I will improve once I refi, but until then it is what it is.  This has been a struggle sine my divorce, but am proud to say has improve...though many of you wonSubmit Your Comment't think so.

Reply by
Cheerfulone55

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yes it would be nice to improve it to 789 that way you could buy what you want and pay no interest rate

Reply by
roberto1970

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simply, not so--

Reply by
airbiscuit

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The more available credit the better. Dont close any.

Reply by
jfizzdizzle

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is this true? i thought it was a soft hit and did not count against you

Reply by
wens2222

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never close an account it causes you to lose points alway keep all credit loans below 50% kepp all credit active even if it mea buying every month and paying it off you history on how you pay everthing on time is how credit it measured it like playing always be on top 

Reply by
bear768

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Be aware that any open account that you have once closed reflects negatively on your credit report.

Reply by
KMberry93

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leave it alone

Reply by
josephine57

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always good to try and improve your credit score. 

Reply by
jeannemp24

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That's a nice score! Now protect it! You can always shoot for the 800 range for even better rates etc.

Do not close old accts. You will work against your best efforts if you do so.

Reply by
mommateetee

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Do not close any accounts. when u do it hurts your credit score. It will drive it down....

Reply by
just4me36

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leave it alone!!!!!

Reply by
ok2483

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Never close out your old accounts. That's why your score is so good b/c you don't owe anything on your old cards but still have very long history with your cards. That's the Key. Long history of something and not be late.

Reply by
PaulRambish

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Its good enough for all the best rates why bother? just pay down your balances on time

Reply by
static357

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Leave it alone.  If you close accounts that are in good standing, it could lower your score.

Reply by
Valblalock

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I have been told the better you score is the better  chance you have getting a low interest rate loan

Reply by
bert61

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did you all knnow that every time that "Credit karma" checks your credit score, it counts againist you by theem placing a "hard Inquiry on yiur credit ? Think about this the next time Credit Karma sends you an email saying that your credit score has changed. Every week I get one of these emails and I now know why there are consistantly 11-14 inquiries on my credit report all the time and that I am not applying for credit cards Plus the credit rerporting agencies list old, closed accounts as open accounts. I am listed as having 116 accounts or lines of credit. Last week I counted 40 credit cards, most of them being Chase becazuse Chase gobbles up all the banks that are folding. When I asked Chase to take my credit lines into one Mastercard and 1 Visa, they refused. Remiind me not to use Chase.

Reply by
sweetboxx

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Helpful to 2 out of 10 people

brag,brag,brag.

Reply by
mecome

2 Contributions
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Karma Scores
Helpful to 37 out of 42 people

I would like to know which score karma represents..... I enjoy the free look, but I really dont know where I stand...

Comment by
dtown66

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Helpful to 38 out of 44 people

I would like to know what each company lists as my credit score.

Reply by
jakemurphy2

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Helpful to 8 out of 11 people

Honestly, I dont know what **** score I have...they are all different by 20 points...

Reply by
SUBSAYLOR

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Folks it's very easy, don't use CC or pay them off at the end of the month. 

Live below your means - if your net pay is $800 per week - spend only $700 and put the extra $100 into a Roth IRA account - every increase in pay check you get - use the increase in pay add it to your savings account. 

Have an emergency account - since this is where folks get in trouble, their car brakes down, and since they don't have the money, they put the repair on a CC.  

People want every thing now – that’s why CC are so popular – buy now pay later – bad idea since it makes you a slave to CC.

Comment by
zap0007

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That's just not so.  I paid off my house 15 yrs. early, paid off my car, pay off all my credit cards every month and the scores move all over the place.  The insurance score is the worst offender. It's dropped 20 points in the past month with no activity at all.  No charges against my insuranc company, no changes in credit use or balances, no new loans,,, nothing.  It's just bogas!!!!!!

Reply by
zunkmahoy

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My sentiements exactly zap!! I recently got a couple to help build my credit back.  I only used them to establish some payments and get thel imits raised; it helps boost your score.  I don't even need the things.  But I need credit in order to buy a home.  I learned a huge lesson after graduating college with 7 CC.

Reply by
tasmiami

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What other scores?
Helpful to 53 out of 62 people

I am not so much interested in how I compare to the rest of the world as in where I fall in the ranges you are using. In other words, which of these are you using?

FICO: traditionally between 300 and 850.

Experian: 330 - 830

Equifax: 300 - 850

TransUnion: 150 - 950

VantageScore: 501 - 990 (often assigned a letter grade, A - F)

Comment by
WOLF1462

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Helpful to 50 out of 59 people

Why does Credit Karma show my score as 686, but TransUnion lists it at 605??? I thought you were using TU's number...

Reply by
wspears1

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Helpful to 22 out of 29 people

TransUnion may actually be showing you your FICO score and not "their" score.

Reply by
hairymon

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Helpful to 4 out of 5 people

CreditKarma uses the TransRisk model, which is TransUnion's version of Credit Scores.

Reply by
JustinTW

7 Contributions
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Stay Tuned. Ranges on the Way
Helpful to 41 out of 48 people

As soon as we move out of beta, we will be providing the complete distribution of our credit score against both the nation and the our user base. Our beta was designed to capture how this score compares against other scores.

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Comment by
ckken

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Helpful to 32 out of 40 people

This article says squat!!! All scores on my report are going up, then suddenly, my vantage score drops..??? Why would my vantage score drop, at the same time as my credit score goes up??? lost 5 points on vantage score, but my other credit scores went up... who figures this ****??? no wonder we people can never get it right, they keep changing the **** rules every other day... a few years back, we bought a house with a 628 score, now we can't buy a soda ... WTF... they just want to screw you at every turn... Thanks AMERICA,,

Reply by
pjtaylor814

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Transunion
Helpful to 36 out of 42 people

From what I understand Credit Karma is using TransUnion to determine the score -- at least on Feb. 16 they are...

Comment by
admntlv

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